Asian stocks and US futures rose modestly on Friday after the US regained more… Their losses After several turbulent days.
The Nikkei 225 in Tokyo rose 0.2% to 53,800.28 after the Bank of Japan left its key interest rate unchanged, as expected. The central bank raised the interest rate to 0.75% last December. At the conclusion of the policy meeting, the bank also slightly raised its estimates for future inflation and economic growth.
The Japanese yen fell against the US dollar, which traded at 158.64 yen, up from 158.42 yen.
“With core inflation price pressures remaining steady, we expect the Bank of Japan to resume its monetary policy tightening cycle in the coming months,” Abhijit Surya of Capital Economics said in a commentary.
Chinese markets also saw moderate gains. Hong Kong’s Hang Seng added 0.3% to 26,718.13, while the Shanghai Composite Index also rose 0.3% to 4,133.58.
South Korea’s Kospi index rose 0.6% to 4,983.36 points. The index exceeded 5,000 points for the first time on Thursday, but declined later in the day.
In Australia, S&The P/ASX 200 rose 0.2% to 8862.20.
The TAEX in Taiwan jumped 0.8%, and the Sensex in India was almost unchanged.
On Thursday, S&The P 500 index rose 0.5% to 6,913.35. Extending its career After US President Donald Trump Tariffs were abolished On European countries that he said opposed his calls for American control of Greenland.
The Dow Jones Industrial Average rose 0.6% to 49,384.01 points, and the Nasdaq Composite Index gained 0.9% to 23,436.02 points.
Details were sparse About a deal On Greenland Which Trump said he reached with the head of NATO, leaving investors anxious about what is to come. It has not been signed yet.
It was the latest example of Trump making a major initial threat, only to back down after a dramatic reaction in financial markets. This pattern gave rise to the abbreviation “TACO,” which stands for “Trump Always Chickens Out.” Markets react strongly enough. Tuesday’s U.S. stock market drop was the worst since October and was large enough that Trump, who often takes credit when Wall Street does well, acknowledged the “drop.”
JPMorgan Chase shares rose 0.5% after Trump’s lawsuit against the bank caused minor effects on its shares. Trump accused JPMorgan Chase To close his accounts for political reasons after leaving office in 2021.
Treasury yields remained relatively steady, suggesting that foreign investors were not rushing out of the US bond market.
Earnings received some support from reports on the strength of the US economy, which were better than expected. Someone said Fewer American workers have filed for unemployment Benefits were higher last week than economists expected, a possible sign that the pace of layoffs remains low. He suggested again The US economy grew at a faster rate over the summer What the government initially estimated.
A third said so Inflation in November was close to economists’ expectationsWhile US consumer spending was slightly better than expected.
Global markets calmed after easing of long-term Japanese government bonds, which rose early in the week on concerns that Japanese Prime Minister Sanae Takaishi might… Make moves This would add significantly to the government’s already large debt.
The yield on 40-year Japanese government bonds fell after hitting a record high of more than 4%. It was trading at 3.0955% early Friday.
In other trading early Friday, the price of gold rose 0.8%, remaining close to the $5,000 level. Silver rose 2.3%. Prices of these precious metals often rise when investors look for something safer to own.
Benchmark US crude added 52 cents to $59.88 a barrel, while Brent crude, the international standard, rose 54 cents to $64.60 a barrel.
The euro fell to $1.1750 from $1.1755.
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AP Business writers Stan Choi, Matt Ott and Yuri Kageyama contributed.